Labor Picture Less Worrisome Than It Appears
As the creator of a key Federal Reserve metric has noted, its use as a recession predictor may not be appropriate.
News
LSV Asset Management Sued by Former Execs Over $100M in Lost Equity
An Illinois lawsuit alleges the plaintiffs resigned or retired, believing they would retain ownership in the firm.
Harvard Assets Reach $53B With 9.6% Return, Endowment Remains World’s Largest
Harvard Management Co. CEO Narvekar attributes returns to public equities, while alternatives lagged.
AustralianSuper Takes $1.5B Equity Stakes in DataBank
The Dallas-based data center company raised about $2 billion to fund its expansion plans that include three new facilities.
PBGC Approves $635M to Carpenters Pension Fund
The Pension Benefit Guaranty Corporation will provide Special Financial Assistance Program funds to the Detroit Carpenters Fund.
Newton Investment Management Appoints 2 Senior Leaders
Laura Curtis and Britta Hion join the investment manager in newly created roles.
Japan GPIF Changes ESG Domestic Equities Index Due to ‘Large Tracking Error’
The $1.7 trillion pension giant has moved $20 billion to the MSCI Nihonkabu ESG Select Leaders Index.
Ben Riley Promoted to Head of Insurance at T. Rowe Price
Riley’s appointment to the newly created role is effective January 1.
Cornell Endowment Returns 8.7% for Fiscal 2024
Assets managed by the university’s Office of University Investments rose to $10.7 billion.
Netherlands Holds Best Retirement System in the World for Another Year
Iceland and Denmark retained their spots near the top of the Mercer CFA Institute Global Pension Index, although the report noted the global need for retirement reform amidst falling birthrates and increasing longevity.
Active Bond Funds Outpaced Passive Peers Over Past Year, per Morningstar
Actively managed real estate funds were also among the top outperformers for the 12 months that ended June 30.
University of Pennsylvania Endowment Returns 7.1%
Assets of the fund increased to $22.3 billion as of June 30.
UK Infrastructure Bank to Become National Wealth Fund in Domestic Infrastructure Push
The plan to create a £27.8 billion sovereign fund moves forward.
Corporate Pension Funded Status Slightly Declines in September
Plan liabilities increased faster than equity gains, resulting in slight declines in the funded status of U.S. corporate pension plans.
MIT Announces Endowment Performance, Returns 8.9% in Fiscal 2024
Assets managed by MITIMCo rose to $24.6 billion.